MGT scores good tin hits at Summer Hill

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THE DRILL SERGEANT: MGT Resources (ASX: MGS) has received the remaining assay results from Phase One of the company’s 2014 Summer Hills drilling program.

The company claims the latest results confirm the Summer Hill prospect to be highly-prospective with broad mineralised zones, including 15 metres  at 0.79 per cent tin, as well as narrower high-grade zones, including 4m at 1.76 per cent tin.

Highlights from the final batch of assay results received include:

Summer Hill Prospect:

SH14
8m at 0.41 per cent tin from 10m, including 1m at 1.7 per cent tin;

SH22
7m at 0.41 per cent tin from 5m, including 1m at 1.01 per cent tin;

SH23
11m at 0.61 per cent tin from 1m, including 2m at 1.13 per cent tin;

SH25
7m at 1.65 per cent tin from 10m, including 1m at 1.66 per cent and 3m at 2.96 per cent tin;

SH26
4m at 1.76 per cent tin from 37m, including 1m at 3.99 per cent tin; and

SH03 infill samples from previously-drilled hole
15m at 0.79 per cent from 32m, including 5m at 1.53 per cent tin.

Viking Prospect:

VK07
1m at 1.14 per cent tin from 25m;

VK08
1m at 1.18 per cent tin from 12m; and

VK15

2m at 1.72 per cent tin from 27m, including 1m at 3.05 per cent tin.

 

Locations of drill collars from 2014 Summer Hills Phase One drilling program and best results from each prospect. Source: Company announcement

 

MGT explained the geometry of mineralisation at parts of the Summer Hill and Viking prospects is uncertain, adding it is probable that true widths are less than the reported downhole intercepts for a number of holes.

“The latest drilling results indicate that Summer Hill is proving to be our most exciting prospect within the Summer Hills project area,” MGT Resources executive chairman and managing director Jonathan Back said in the company’s announcement to the Australian Securities Exchange.

“The results continue to demonstrate mineralised intercepts at shallow depth which will bring down extraction costs.

“A number of high-grade intersections were made including 7m at 1.65 per cent tin in SH25, where the highest grade metre ran 6.37 per cent, which is the tin equivalent of around 19 per cent copper.

“I’m pleased to say that planning for follow-up drilling of these positive results is already underway and we anticipate running another drilling program in the near future.”

Email: info@mgt.net.au

Website: www.mgt.net.au